Hedge fund Privet launches bid to buy Norsat International
Privet Fund Management has formally indicated an interest in acquiring Norsat International Inc (TSX: NII), a Richmond, British Columbia provider of customized communication solutions for remote and challenging applications. Privet, a U.S. hedge fund manager, said it is prepared to buy shares not already owned for US$11 per share in cash, which exceeds a US$10.25 per-share offer made by Hytera Communications Co Ltd last month. Privet, Norsat's largest investor with a 17.6 percent interest, said the proposed Hytera deal is not in the best interests of shareholders.
17 April 2017•3 mins read
